Telangana sign MoU for hosting India’s first Blockchain district

The newly carved state in India, Telangana has signed a memorandum of understanding (MoU) with global leader digital company, Tech Mahindra for building a country’s first Blockchain district.

To foster growth of India’s Blockchain ecosystem, the Telangana State Information Technology, Electronics and Communication department (ITE&C) signed the MoU under which center of excellence for Blockchain, an incubator for technology and process development with innovative infrastructure will be developed.

The agreement was signed during the International Blockchain Congress (IBC) that is held in Hyderabad from 3 – 4 August 2018.

Commenting on this, state IT Minister K T Rama Rao, said, “With support from Tech Mahindra, we envision to set a global benchmark in providing cutting-edge Blockchain technology solutions and platforms across industries. It is not just a proud moment for Telangana but India as a global leader in the Digital Era”

“The launch of the Blockchain District is a moment in history, a global talent hub which can unlock the value of blockchain technology in democratizing data and solving big scale world problems,” Tech Mahindra CEO & managing director C P Gurnani said.

“It is also a huge step in reskilling and right skilling the workforce of the Future. Blockchain experts will be our crowning jewels as together we work towards making India the Blockchain capital of the world,” Gurnani added.

Under the deal, Tech Mahindra as a founding member of the Blockchain district will provide platform and technology assistance to all the incubators in the Blockchain District, while Telengana ITE&C Department will provide regulatory and policy support to enable and promote Blockchain growth both in India and globally.

The company will also empower accelerators to develop and solve market problems across its global customer ecosystem.

The Blockchain District will provide an opportunity for the ecosystem in India to collaborate and work towards building a Blockchain District in the state and transforming India as the Blockchain capital of the world.